Great Depression

Shannon D.
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  1. durable goods
    consumer goods that are not destroyed by use
    The initial government response to the crisis exacerbated the situation; protectionist policies like the 1930 Smoot-Hawley Tariff Act in the U.S. strangled global trade as other nations retaliated against the U.S. Industries that suffered the most included agriculture, mining, and logging as well as durable goods like construction and automobiles that people postponed.[2]
  2. malfeasance
    wrongful conduct by a public official
    The usual explanations include numerous factors, especially high consumer debt, ill-regulated markets that permitted malfeasance by banks and investors, cutbacks in foreign trade, lack of high-growth new industries,[1] and growing wealth inequality, all interacting to create a downward economic spiral of reduced spending, falling confidence, and lowered production.
  3. deflation
    the act of letting the air out of something
    The market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth and personal advancement.
  4. Great Depression
    the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
    he Great Depression began on "Black Tuesday" with the Wall Street Crash of October, 1929 and rapidly spread worldwide.
  5. cutback
    a reduction in quantity or rate
    The usual explanations include numerous factors, especially high consumer debt, ill-regulated markets that permitted malfeasance by banks and investors, cutbacks in foreign trade, lack of high-growth new industries,[1] and growing wealth inequality, all interacting to create a downward economic spiral of reduced spending, falling confidence, and lowered production.
Created on Mon Jan 25 15:29:48 EST 2010

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